Small businesses, which the U.S. Small Business Administration defines as a firm employing fewer than 500 people, employed 47.3% of all private-sector workers in the United States in 2019. As 15% of all workers are employed in the public sector, large businesses employ 45% of all U.S. workers compared with 40% for small businesses.
While large businesses employ more Americans, small businesses contribute significantly to economic growth and job growth. From 1993 to 2011, about 64% of new jobs were created by small businesses.